LH to Award Construction and Service Contracts Worth 11.6 Trillion Won This Year

Construction orders of 10.5 trillion KRW and service orders of 1.1 trillion KRW issued... 21% increase compared to last year
Strengthening order plan management to ensure smooth implementation of annual order plans

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 11th that it plans to issue construction and service contracts worth 11.6 trillion won this year, the largest order volume among public institutions. This amount is 2 trillion won (21%) higher than last year's order volume of 9.6 trillion won.

By type, the construction sector accounts for 10.5 trillion won, and services for 1.1 trillion won. The construction sector includes △Comprehensive Evaluation Bidding System 5.4 trillion won (48 cases) △Simplified Comprehensive Evaluation System 1.6 trillion won (81 cases) △Qualification Evaluation System 2.9 trillion won (1,042 cases). The service sector includes △Technical services 900 billion won (530 cases) △General services 200 billion won (260 cases).

Looking at the order plans by construction type, building and civil engineering works, which have significant economic ripple effects such as job creation, account for about 65% of the total order amount. △Building construction 6 trillion won (269 cases) △Civil engineering 1.6 trillion won (57 cases) △Electrical, communication, and fire protection works 1.8 trillion won (496 cases) △Landscaping works 700 billion won (117 cases) △Other works 400 billion won (241 cases). In the service sector, technical services such as design amount to 900 billion won (530 cases), and general services 200 billion won (260 cases).

LH plans to actively strive to implement the announced order volume as planned to contribute to the business and contract strategy establishment of procurement participants such as construction companies.

An LH official said, "Through strengthened order plan management, we will faithfully carry out the 11.6 trillion won order plan this year to revitalize the economy, which has been stagnant due to COVID-19, and actively participate in efforts for daily life recovery."